AGI stock continued its trend higher on November 10, 2021, nearly two weeks after positive news at the Bald Eagle drilling site.

Manitou Gold Intersects 19.7 g/t Au in New Discovery at the Bald Eagle Gold Zone on its Goudreau Project, Wawa, Ontario

On October 28, 2021, Manitou Gold Inc. (TSX-V: MTU) is pleased to announce high-grade assay results from two diamond drill holes at the recently discovered Bald Eagle gold zone (“BEGZ”) at its 100% owned Goudreau project in northern Ontario.

Highlights:

All six drill holes at the BEGZ intersected significant gold mineralization, including the most recent two step-out holes drilled 100 m east-southeast of previously announced drill holes.

New intersections include:

19.7 g/t Au over 1.0 m, 7.1 g/t Au over 1.0 m and 6.3 g/t Au over 1.0 m in hole MTU-21-44; and 10.9 g/t Au over 0.7 m in hole MTU-21-43

Second drill to be mobilized to the property in the coming days for follow-up drilling at the new BEGZ discovery
The Company has now received additional results for two step-out holes drilled 100 m east-southeast of previously reported drill holes. Highlights of the two holes include 19.7 g/t Au over 1.0 m, 7.1 g/t Au over 1.0 m and 6.3 g/t Au over 1.0 m in hole MTU-21-44 and 10.9 g/t Au over 0.7 m in hole MTU-21-43.

On September 28, 2021, the Company announced results of its first four drill holes at the BEGZ, located approximately six kilometers northeast of the BDZ grid. As previously reported, highlights of the first four drill holes at the BEGZ included 3.3 g/t Au over 3.0 m, including 5.2 g/t Au over 1.5 m within wider gold mineralized interval of 20.6 m grading 0.8 g/t Au in hole MTU-21-41, and
1.4 g/t Au over 9.0 m and 2.8 g/t Au over 1.4 m within a wider gold mineralized interval of 22.8 m at 0.9 g/t Au in hole MTU-21-39.

Following these highly encouraging drill results, a second drill has been contracted and will be mobilized to the property in the coming days for follow-up drilling at the new BEGZ discovery while the original drill is continuing to test high priority targets along a 10 km long section of the Baltimore deformation zone (“BDZ”).

Drilling is currently testing new priority targets along the BDZ, including coincident multi-line gold +/- copper soil geochemistry anomalies with strike lengths of up to 350 m and coincident IP anomalies in close proximity to prominent structural intersections. The BDZ represents the interpreted fault offset continuation of the Goudreau-Localsh Deformation Zone (the “GLDZ”), which makes it a highly prospective regional exploration area, given known economic mineral resources located within the GLDZ. The GDLZ hosts Alamos Gold’s (TSX:AGI; NYSE:AGI) Island gold deposit and Argonaut Gold’s Magino deposit, in addition to a number of smaller-scale past-producing mines, including the past-producing Cline and Edwards mines.

Bullish Option Flow Detected In AGI Stock

Mildly bullish option flow was detected in AGI stock.

Alamos Gold Reports Third Quarter 2021 Results

On October 27, 2021, the company reported its financial results for the quarter ended September 30, 2021.

Alamos Gold reported Q3 adjusted EPS of 10c versus the consensus estimate of 11c. The company reported Q3 revenue of $198M versus the consensus estimate of $223.34M.

“We had a challenging third quarter at our Mulatos mine which offset strong performances at our Canadian operations. The challenges at Mulatos are temporary with the operation transitioning to low-cost production from La Yaqui Grande in 2022; however, given the weaker quarter, we reduced 2021 guidance at the operation by 15,000 ounces. We have also increased our consolidated cost guidance for the year given the stronger than budgeted Canadian dollar and higher than planned costs at Mulatos,” said John A. McCluskey, President and Chief Executive Officer.

“We expect higher production in the fourth quarter with our Canadian operations continuing to perform well. This has been led by Young-Davidson which achieved a new record for underground mining rates in the third quarter. We are also making good progress on our growth initiatives including the Phase III expansion at Island Gold and construction of La Yaqui Grande. Both are key drivers of our strong outlook with production potential of 750,000 ounces per year by 2025 at significantly lower all-in sustaining costs of approximately $800 per ounce,” Mr. McCluskey added.

AGI stock technical analysis

The large players volume looks amazing and is blasting off like a rocket. The long-term trend is still neutral, but the short-term trend is positive, so the stock is getting more and more appreciated by traders and investors. AGI has an average technical rating and it also does not offer a high-quality setup at the moment. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when AGI stock is a good entry.

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